Cryptocurrency Analysis and News Portal
Cryptocurrency exchange Binance has announced it completed the first burn of Terra Classic tokens’ trading fees in response to a community proposal from September.In an Oct. 3 update, Binance CEO Changpeng Zhao said the exchange had burned roughly $1.8 million worth of Terra Classic (LUNC) — formerly Terra (LUNA) —
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The first problem is, of course, that there’s no actual slashing rule on Ethereum. Any imposition of one – taking away staked tokens from validators – would be contrived and arbitrary, effectively unconstitutional. Now, you might say, as a young protocol, Ethereum’s governance should be malleable, but the stakes are
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Acala’s native stablecoin, aUSD, came close to regaining its peg to the U.S. dollar after the Polkadot-based decentralized finance (DeFi) platform burned over 1.2 billion aUSD tokens that were minted by exploiters over the weekend who took advantage a bug in one of the platform’s liquidity pools. Source
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A shocking amount of nearly 13 billion SHIB has already been removed from the systemic circulation supply over the past 24 hours. As tweeted by the Shiba Inu transaction tracker @Shibburn, this is because the coin is being sent to dead-end wallets. The platform also burns Shiba Inu to help
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Another spicy week of crypto news heads into the weekend, with Mexico’s third-richest billionaire advising “save your skin” from hyperinflation by buying bitcoin, Shark Tank star Kevin O’Leary predicting that bitcoin mining will “save the world,” Bitcoin.com News noting eerie similarities between the current great monetary shift and the creation
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Burning BNB, which involves sending tokens to an inaccessible wallet, effectively removes them from circulation forever. It was initially introduced as a mechanism to accrue value and grow Binance. But as the broader crypto market grew and Binance Smart Chain was launched, BNB found uses beyond simply being an exchange
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The project has adopted a deflationary tokenomic model to ensure network sustainability. A new blockchain project called Archethic has become the first project to burn 90% of their total token supply — within just 6 months of launch of their Mainnet Beta. The unprecedented mass burn of the $UCO token is a
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Approximately 25 days ago, the Ethereum blockchain implemented the London hard fork and a number of features were added to the ruleset. One of the most anticipated changes was EIP-1559 which makes the crypto asset ether deflationary by burning a fraction of coins. Since August 5, over $432 million worth
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The latest craze in animal themed nonfungible tokens has been such a big hit that it has become the top burner of Ethereum transaction fees over the past 24 hours.CyberKongz, which started as a collection of 1,000 unique NFTs in early March 2021, has surged in popularity recently. So much
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The Ethereum network has now continuously burned base fees for a week straight and in that time frame, the amount of ETH burned has hit $100 million. With over 32,000 ETH burned in the space of seven days. The fee burn rate fluctuates given the network traffic, but the burn
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